WOW.AX rises to highest close since May 5, 2015


Woolworths Ltd (WOW.AX) Technical Analysis Report for May 18, 2018 [< 1 min read]
Highlights
WOW.AX closes higher for the 3rd day in a row
WOW.AX pushes through previous session high
WOW.AX rises to highest close since May 5, 2015
WOW.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, WOW.AX finished the week 1.5% higher at 29.03 after gaining A$0.10 (0.35%) today. Today's closing price of 29.03 marks the highest close since May 5, 2015. Closing above Thursday's high at 28.93, Woolworths Ltd confirms its breakout through the prior session's high having traded A$0.26 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for WOW.AX
Volatility

Friday's trading range was A$0.26 (0.9%), that's below last trading month's daily average range of A$0.31. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to a key support level at 28.88.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Woolworths Ltd
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
High close to previous three Highs TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Long-Legged Doji TQ Pro Members Only
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